Introducing dTrax–Deloitte’s Artificial Intelligence (AI) Contract Analysis Solution has been added to Bookmarks.
Introducing dTrax–Deloitte’s Artificial Intelligence (AI) Contract Analysis Solution
Harnessing the power of analytics and AI in contract management
Learn how dTrax can help minimize risk, reduce cycle time, and unlock additional value from your contract generation and negotiation process.
- Today’s challenges in managing contract portfolios
- Deloitte’s AI-enabled contract management solution
- dTrax by Deloitte
- Get in touch
- Join the conversation
Today’s challenges in managing contract portfolios
The pace of business is becoming faster, and the demands on in-house counsel are continually growing. Organizations no longer have the time to waste valuable resources manually putting together, negotiating, and managing contract portfolios.
Thanks to significant breakthroughs in technology, there is a better way.
Many of the critical issues faced by legal departments could potentially be alleviated by investing in technological solutions that enable in-house legal departments to automate repetitive and manual legal processes. And by using the analytics generated by this technology, in-house counsel can make more timely and accurate strategic decisions, which can result in greater business impact.
Deloitte’s AI-enabled contract management solution
dTrax is highly customizable and can integrate with existing business systems (e.g., vendor onboarding, customer relationship management (CRM), invoicing) to help streamline operations and enhance the impact across the organization.
It is configured to the needs of your specific organization, leveraging a customized suite of technologies designed to help reduce cost, risk, and cycle time and increase accuracy by using AI and machine learning. This customized approach can help enable your contract management solution to evolve with changing technology and the evolving needs of your business.
dTrax can be configured as an end-to-end contract life cycle management solution or as a solution to manage specific projects, such as contract repapering exercises in response to regulatory change (e.g., General Data Protection Regulation, Brexit, Initial Margin, interbank offering rate).
Some potential benefits of dTrax:
- Increases efficiency. dTrax speeds up the contractual process to help you negotiate and execute deals more quickly.
- Reduces costs. dTrax’s streamlined process and improved operational efficiency reduce the costs associated with contracting.
- Reduces risk. Insight into contract performance helps you recognize revenue as well as assess and mitigate risk.
- Saves time. Unburdens senior legal advisers from managing the high volume of low-value/low-risk negotiations.
- Increases compliance. Improves adherence and expedites a response to regulatory change.
- Improves processes. Streamlines business transactions and enhances client experience.
dTrax process flow
How is dTrax different?
- It is highly customizable. We can tailor the solution for your specific needs and integrate it with your existing business systems and processes.
- You gain access to Deloitte’s fully integrated, end-to-end service offering, which provides advisory services, technology configuration and deployment, and managed services. Deloitte is recognized as a global leader in data analytics services (by Gartner in 2019).
- It is contract agnostic. It has the ability to create, negotiate, and execute any type of contract, regardless of complexity or length.